Can excel be used in taking record of my daily business transactions?

Microsoft Excel spreadsheet software has become an integral part of most business organizations across the world. MS Excel is used for various purposes by business establishments. Some organizations use this spreadsheet software for generating memos, track sales trends, and other business data. Microsoft Excel spreadsheets software come with million rows of data and automate number crunching, but this popular spreadsheet software is capable of doing more than just figures. MS Excel has a simple interface, that allows users to easily understand this software and also perform basic activities. It helps:
1. Work Scheduling: Assigning the work tasks to the team members is one of the most important job of the managers. This task must be performed by managers effectively so that the given project deadlines are met and the project is delivered successfully to the client. For this, managers take advantage of Scheduling feature available in the MS Excel spreadsheet software. These schedules can be color-coded and are designed in such a manner that they get automatically updated if there is a change in the schedule of tasks and activities.
2. Basic Financial Accounting: Small and mid-sized organizations make use of MS Excel spreadsheet software for carrying out their accounting activities. They can create a basic accounting program or checkbook ledger that allows them to keep a track of the organization’s financial transactions. For making it more effective accountants can enter their deposits and expenditures onto each row, very much similar as they do it in the traditional ledger books. By entering data in this manner accountants also have the flexibility to create charts and graphs over time to compare business income and expenditures.
3. Tracking Product Sales: MS Excel spreadsheet software allows the small business users to keep a complete track of their product sales. By doing these, small business owners can effectively design plans that will enhance their sales in the market. By maintaining a complete track of the product, business owners get a clear idea about the progress business has made over the specified time period and also helps them to identify the high and low sales trends. According to Microsoft officials, “By using regression analysis, you can extend a trendline in a chart beyond the actual data to predict future values.”
4. Return On Investment [ROI]: MS Excel software also allows you to track the Return On Investment accurately. The ROI gives the business owner a clear indication of how much investments have been made into the business and how much is the profit earned by the business. If the business owner is keeping a complete track of the sales, then they will also get an idea about how long it takes for them to reach break even or additional profit levels.
5. Customer Data: Small business establishments and organizations use MS Excel spreadsheet for storing contact information of their clients and customers. This information acts as a customer database for them and can make use of this information to contact their customers. The advantage of storing this information in MS Excel sheet is that even though the sheet is updated or new fields have been added to the sheet it does not affect or change the content present in other cells of the spreadsheet.